A Brazilian billionaire has won a review of more than $35mn in legal fees charged by US law firm WilmerHale, in a ruling that lays bare the high hourly rates of Big Law.
In a judgment published on Wednesday, London’s High Court granted Alberto Safra, the son of Joseph Safra — once the 'world’s richest banker' — a full assessment of WilmerHale’s costs, which ran to more than $162,000 on one day in 2023 alone.
The dispute highlights the ever-increasing hourly rates of the world’s biggest law firms, as well as the high number of hours lawyers at such firms work.
When Safra instructed WilmerHale in 2022, the firm quoted partner rates as high as $2,100 an hour. Partners later recorded working between 12 and 17 hours a day on the multibillion-dollar estate feud involving his late father’s inheritance.
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